120
120
Feb 18, 2013
02/13
by
CNBC
tv
eye 120
favorite 0
quote 0
economy. >> i think the u.s. economy is recovering. the job is recovering. the energy boom is helpful. the housing market has bottomed out and beginning to pick up. balance sheets, consumer balance sheets, business balance sheets are doing well and exports are doing well. which is a key area of interest for me. >> how do we take that the next step further? is it exports? is that how you do it? open trade? >> i think there are -- all of these elements are important. from my point of view, the state department, exports are very important to the whole economy and to jobs because 95% of the world's consumers live outside the united states, so we're trying to promote american exports by promoting american companies, ensure there are fair trading rules in the global system so it's not distorted by state subsidies or state enterprises. we're also making a major effort through the partnership trade negotiations and now the president announced negotiations with europe. that can open up new markets and provide new opportunities for american companies, and we're trying
economy. >> i think the u.s. economy is recovering. the job is recovering. the energy boom is helpful. the housing market has bottomed out and beginning to pick up. balance sheets, consumer balance sheets, business balance sheets are doing well and exports are doing well. which is a key area of interest for me. >> how do we take that the next step further? is it exports? is that how you do it? open trade? >> i think there are -- all of these elements are important. from my...
126
126
Feb 19, 2013
02/13
by
CNBC
tv
eye 126
favorite 0
quote 0
this is to the because i can tell you exactly what the economy is going to do. we are not judges the beauty pageant. we're judging the judges. the judge will look at sequestration as a situation where none of the earnings for the second and third quarter can possibly be met in lurxury retail. >> they just showed a chart of it. >> it is an absurd rally. it's the best performing sector of the market last year by a long shot and quite frankly, i don't think that can withstand the headlines. >> are you short this sector? >> i'm not short the xly but i have no -- >> this judge wants to know what is going to bring optimism to a level where it matches the market move itself? you know what i have mean? >> i do, scott. if see's theses is holds true, if we break through that and we start threatening 1600 or above 1550 i think you start to see that optimism and with that a slight rise in interest rates. as steve liesman said, the one factor you're leaving out, housing. when people have jobs and getting better wage, the housing market has been pretty strong. there's no othe
this is to the because i can tell you exactly what the economy is going to do. we are not judges the beauty pageant. we're judging the judges. the judge will look at sequestration as a situation where none of the earnings for the second and third quarter can possibly be met in lurxury retail. >> they just showed a chart of it. >> it is an absurd rally. it's the best performing sector of the market last year by a long shot and quite frankly, i don't think that can withstand the...
116
116
Feb 22, 2013
02/13
by
CNBC
tv
eye 116
favorite 0
quote 0
our economy is too small or government is too big. if we have some cuts or something that even looks like cuts it will add certainty to the business climate. it will make a meaningful difference. in a few months obama will take credit for what will come after the sequester. >> we'll leave it on that pearl of wisdom. folks if you insist on panicking about something consider the huge cost of all those federal government government workers. you won't believe how much their unfunded pension obligations are. they are going broke and there may be another taxpayer bailout in the cards. and once again don't forget free market capitalism is the best bath to prosperity. "the kudlow report" is coming back with more capitalism. don't worry, folks, help is on the way. >> remain calm. all is well. all is well! i've always had to keep my eye on her... but, i didn't always watch out for myself. with so much noise about health care... i tuned it all out. with unitedhealthcare, i get information that matters... my individual health profile. not random
our economy is too small or government is too big. if we have some cuts or something that even looks like cuts it will add certainty to the business climate. it will make a meaningful difference. in a few months obama will take credit for what will come after the sequester. >> we'll leave it on that pearl of wisdom. folks if you insist on panicking about something consider the huge cost of all those federal government government workers. you won't believe how much their unfunded pension...
210
210
Feb 19, 2013
02/13
by
CNBC
tv
eye 210
favorite 0
quote 0
what's going on in the federal reserve is unflatting the economy. how can you invest in that sort of sense is if the alen line would last. what else are you going to do? in a way you have to live with the fantasy while it's going on and make sure you're out before the whole thing pops. >> it's a good point, but in terms of the second half of the year would you expect a pickup in earnings the second half of year. >> i do expect a pickup in earnings. a stumbling recovery, three steps forward and two steps back. earnings numbers, as just said, about a "b," b-plus so i agree with that acceleration. >> the reason -- >> the reason you are seeing comfort tip, that's the responsible thing for executives to do. >> 110 dollars and the compare sox get resner in the second half of the world and when you're lose inn, we know europe is going to be a problem, locker i think than the consensus expects. you and i have discussed before and china is weaker than consensus, but north america remains an important catholic. >> we'll leave it there. >> thanks, maria. >> co
what's going on in the federal reserve is unflatting the economy. how can you invest in that sort of sense is if the alen line would last. what else are you going to do? in a way you have to live with the fantasy while it's going on and make sure you're out before the whole thing pops. >> it's a good point, but in terms of the second half of the year would you expect a pickup in earnings the second half of year. >> i do expect a pickup in earnings. a stumbling recovery, three steps...
190
190
Feb 22, 2013
02/13
by
CNBC
tv
eye 190
favorite 0
quote 0
can the economy go from smoking hot to ice cold overnight? can we go from thinking we are working our way out of a long-term jam to game over? the buzzer, that's what was swirling through everybody's heads today. the market got whacked again. we did have a bit of a late-day comeback. the dow sank nearly 47 points. and don't forget, yesterday was the worst day of the s & p for the year. today, down another 1.04%. the speed with which things got negative is breathtaking, too breathtaking if you ask me. considering my "squawk on the street" partner, how do things flip so quickly? sequester, housing, to europe, all went from benign to pernicious in one week. is that possible? i think things got more mixed, less positive. mixed data doesn't jive with a market that was up 8%, where we were when things turned sour. it's not so negative that we should give up this year's gains. i said for many, too much negativity to handle without taking aggressive selling action. i get that. i don't dismiss anything as important as the huge downturn in commodities,
can the economy go from smoking hot to ice cold overnight? can we go from thinking we are working our way out of a long-term jam to game over? the buzzer, that's what was swirling through everybody's heads today. the market got whacked again. we did have a bit of a late-day comeback. the dow sank nearly 47 points. and don't forget, yesterday was the worst day of the s & p for the year. today, down another 1.04%. the speed with which things got negative is breathtaking, too breathtaking if...
90
90
Feb 21, 2013
02/13
by
CNBC
tv
eye 90
favorite 0
quote 0
relatives it pieres a wal-mart does better in a slow or challenged economy. but wal-mart, like others, does better when the economy is moving ahead, right? >> wal-mart would do better by far in a better wage growth. when things are tough, they do do better and benefit from that trade. >> your prying target is 75. you see it as a kind of market performer at best, right? >> i take it to market performer. earnings growth is mid digit. and we think it is a tough environment valuation is not -- >> really? i want to get a very quick answer from you on the fiscal cliff, but sequestering. i hate that word. budget cuts that could come in ten days' time. do you see that as a major problem for the retail space? >> not at all. >> no? ? >> not at all. the issue for the consumer is the payroll tax. you just have about 1.5% less income to spend. there will be some people affected by sequestering but in the magnitude of that is so small relative to the -- >> a marginal fact. >> 130 billion going up in payroll taxes. >> collin, thank you very much. simon? >> ty, straight for
relatives it pieres a wal-mart does better in a slow or challenged economy. but wal-mart, like others, does better when the economy is moving ahead, right? >> wal-mart would do better by far in a better wage growth. when things are tough, they do do better and benefit from that trade. >> your prying target is 75. you see it as a kind of market performer at best, right? >> i take it to market performer. earnings growth is mid digit. and we think it is a tough environment...
97
97
Feb 19, 2013
02/13
by
CNBC
tv
eye 97
favorite 0
quote 0
i think the economy is struggling. europe is struggling for sure, even though we're the prettiest girl on the block and probably one people will look to, our economy is not anywhere yet robust by any stretch of the imagination. i think this will come back to bite us. >> we talked about transports specifically. what about the broader market if it keeps moving. >> look at the broader market today. for every reason it has to go lower. it hasn't. we've broken through 14,000. now if we stay above this and close above 15, 25, a slot take it to the highs of 1565 relatively quickly for no other reason than just the momentum play. >> got it. kenny, good to see you always. >>al a pleasure. >> back to you, tyler. >>> health insurance taking a hit after humana said it would be be hurt by pay rates. bertha coombs with the story. >> not just humana, the rates outlined by the centers for medicaid and medicare services. they have a 45 day notice before they put it into effect. called the proposed cuts a crushing blow to medicare patie
i think the economy is struggling. europe is struggling for sure, even though we're the prettiest girl on the block and probably one people will look to, our economy is not anywhere yet robust by any stretch of the imagination. i think this will come back to bite us. >> we talked about transports specifically. what about the broader market if it keeps moving. >> look at the broader market today. for every reason it has to go lower. it hasn't. we've broken through 14,000. now if we...
99
99
Feb 18, 2013
02/13
by
CNBC
tv
eye 99
favorite 0
quote 0
and i believe that advanced economies, systemically important economies must be sensitive to the lower impact of their policies. >> also speaking on the sidelines of the g-20, australia's deputy prime minister dismissed talk of a currency war, but did admit that a stopping aussie/dollar is a concern and key to australia's economy. >> we saw a huge crash in commodity prices in the second half of last year and that relied heavily on our revenues. and part and parcel of all of that was doubts about the future of chinese growth. but if the chinese economy is growing 7.5% or 8%, that's still very strong growth. it's good news not just for australia, not just for the region, but for the global economy. the chinese economy is something like 40% larger than it was at the end of the 2007 when it was growing at 10. so with an economy growing at 8 or just below 8, it's still making a significant contribution to global growth. >> have we got a better balance now in terms of austerity versus growth in terms of a coordinated g-20 agenda? >> look, i was pleased to hear the discussion about the econom
and i believe that advanced economies, systemically important economies must be sensitive to the lower impact of their policies. >> also speaking on the sidelines of the g-20, australia's deputy prime minister dismissed talk of a currency war, but did admit that a stopping aussie/dollar is a concern and key to australia's economy. >> we saw a huge crash in commodity prices in the second half of last year and that relied heavily on our revenues. and part and parcel of all of that was...
128
128
Feb 21, 2013
02/13
by
CNBC
tv
eye 128
favorite 0
quote 0
if the economy is going to slow down because of the fed, don't filt that as a gardener, even if i am a savage fighting machine gardener, i like the concept of rain. i like to believe you can have a garden variety squall. i just think they we were due, over due. maybe for a bit of rain or a thunderstorm. for those of you who don't pay for espn. i saw green bay lose a bunch of games, i have written off the yankees, why can't the market have a losing session. and right after joe dimaggio broke his stree, he had another mini streak, he got 16 straight games with hits. he was due. over due. bottom line. i believe today was not an important water shed session. there are things going wrong, okay. i think this market, let's give it a rest. i think it comes back, jim. john in florida. >> two months later, the sba didn't approve the hepetittis vaccine. they are coming to a vote again for this vaccine. >> the first time in five years, just kidding, they mentioned i got amlin wrong, i think people watch the show, i did a huge episode how i got it wrong. i don't expect much from next week. i thin
if the economy is going to slow down because of the fed, don't filt that as a gardener, even if i am a savage fighting machine gardener, i like the concept of rain. i like to believe you can have a garden variety squall. i just think they we were due, over due. maybe for a bit of rain or a thunderstorm. for those of you who don't pay for espn. i saw green bay lose a bunch of games, i have written off the yankees, why can't the market have a losing session. and right after joe dimaggio broke his...
146
146
Feb 21, 2013
02/13
by
CNBC
tv
eye 146
favorite 0
quote 0
made all these promises our economy can't afford because the economy isn't performing. this has been going on for the last decade or two. the 2007 recession really brought it to life, but -- but what's happened is america used to be a uniquely productive, low-cost place to do business. we had efficient infrastructure. we had limited regulation. we believed in, you know, we believed in the market. we had -- >> market capitalism. >> market capitalism. bit by bit we've allowed regulatory costs to go up. our legal system is very expensive and cumbersome. our infrastructure is eroding, and we've fallen behind on skills. it used to be that america was the place where we have the high skills and now, of course, so many of our citizens don't have the skill to actually earn a decent income. >> we don't have the skill sets required to actually fill the jobs that are needed right now. >> to fill the jobs that are needed, and so this great middle class that has been the bedrock of america, it's hollowing out because now you really need advanced skills in order to compete and we hav
made all these promises our economy can't afford because the economy isn't performing. this has been going on for the last decade or two. the 2007 recession really brought it to life, but -- but what's happened is america used to be a uniquely productive, low-cost place to do business. we had efficient infrastructure. we had limited regulation. we believed in, you know, we believed in the market. we had -- >> market capitalism. >> market capitalism. bit by bit we've allowed...
614
614
Feb 22, 2013
02/13
by
CNBC
tv
eye 614
favorite 0
quote 1
the biggest embarrassment now is if the stock market goes vertical and the economy doesn't, the fed in a way has to temper the pace of equity gains. >> don't want any bubbles anywhere? >> what about the suggestion that the federal reserve is going to start winding down qe3. you know, what does that create in terms of disruption in the market? are you expecting that to create a selloff? this is all coming together at a time when we're also worried about rates beginning to spike over sequestration and a credit problem this country has. >> it has to happen at some point. let's say sequestration does happen. that's bond bullish and might replace the buying that the fed might over-wise do. while you might have concern over the exit plan, we don't know what the supply is going to be. in other words, could you see yields go nowhere. >> bruce, we were talking about how defensive issues are relatively speaking outperforming right now. what do you want to buy if you're convinced that we're going to go higher here through the end of this year? what will lead us higher, do you think? >> we think a
the biggest embarrassment now is if the stock market goes vertical and the economy doesn't, the fed in a way has to temper the pace of equity gains. >> don't want any bubbles anywhere? >> what about the suggestion that the federal reserve is going to start winding down qe3. you know, what does that create in terms of disruption in the market? are you expecting that to create a selloff? this is all coming together at a time when we're also worried about rates beginning to spike over...
123
123
Feb 23, 2013
02/13
by
CNBC
tv
eye 123
favorite 0
quote 0
economy. all right. i mean, unless you criticize me on this. not everyone's getting the benefit of the doubt. right now the gang at apple is being viewed about as cool as the bell bottom-wearing drones at microsoft. in fact, the stock's actually cheaper than microsoft. and get this, it's being sued by a large shareholder for not creasing enough value, even as it's been about the world's biggest value creator of all time. suddenly the street's turned on whole foods, a former darling, and it likes safeway of all things. proving there truly is no accounting for taste. and i have no idea what's happened for coach to get its mojo back but i've been thinking, maybe it needs to get into bowling bags! but the overall theme is clear. if you screw up and confess culpability while laying out a course of action you're going to be richly rewarded for it in this environment. sought bottom line is don't be so quick to blow out of a non-performer. it just might come roaring back without you. stay with cramer. >> coming up, housewarming spec. cramer's gone hous
economy. all right. i mean, unless you criticize me on this. not everyone's getting the benefit of the doubt. right now the gang at apple is being viewed about as cool as the bell bottom-wearing drones at microsoft. in fact, the stock's actually cheaper than microsoft. and get this, it's being sued by a large shareholder for not creasing enough value, even as it's been about the world's biggest value creator of all time. suddenly the street's turned on whole foods, a former darling, and it...
141
141
Feb 21, 2013
02/13
by
CNBC
tv
eye 141
favorite 0
quote 0
we're expecting the eurozone economy to contract another 10.2% this year. that's not that far away from the consensus. we expect that you get continued divergence within the eurozone and germany, which had a very soft patch at the end of the last year is picking up and that's supported by the pmi data whereas other economies in europe are stag nating or weakening. >> wouldn't it be easier if they were all stag nating or weak? even if germany is weak, the central bank can come in and say we have to be more accommodating. but if they're holding in okay, that puts more of the onus on the periphery or even france, that means the economies would like more saurt and might not get it. >> but this divergence in europe is part of the recovery process. germany needs to see stronger than after growth at other countries effectively deflate in order to get these big imbalances to reverse over time. and that's really part of the recovery process. we don't think that the european economy itself needs to be strong for european equities to perform well. let's face it, last
we're expecting the eurozone economy to contract another 10.2% this year. that's not that far away from the consensus. we expect that you get continued divergence within the eurozone and germany, which had a very soft patch at the end of the last year is picking up and that's supported by the pmi data whereas other economies in europe are stag nating or weakening. >> wouldn't it be easier if they were all stag nating or weak? even if germany is weak, the central bank can come in and say...
180
180
Feb 21, 2013
02/13
by
CNBC
tv
eye 180
favorite 0
quote 0
the economy has clearly moved from crisis back to growth, if you will, a more normal economy. the fed is continuing to employ policies that are still crisis like policies. that you only use in terms times the national emergency. i think they need to normalize them. and i think it's a good thing. i think people fear that the fed is going to stop and the market is going to collapse. i think yesterday is going to be reflected on as the fed saying they're seeing a economy that doesn't stand as much on its own two feet. >> the economy was doing pretty well and we were shocked that they continued to be, you know, so accommodative. and now, i don't know whether it's better than six months agnesly. now i'm wondering whether they ever knew what they were doing. if they're now questioning it -- >> how many times have you said that over the last three years? >> that must mean they don't know what the hell they're doing. scott, if they did it six months ago and they were sure it was the right move, now we've got gasoline prices, payroll taxes, all this other stuff happening to unemploymen
the economy has clearly moved from crisis back to growth, if you will, a more normal economy. the fed is continuing to employ policies that are still crisis like policies. that you only use in terms times the national emergency. i think they need to normalize them. and i think it's a good thing. i think people fear that the fed is going to stop and the market is going to collapse. i think yesterday is going to be reflected on as the fed saying they're seeing a economy that doesn't stand as much...
102
102
Feb 20, 2013
02/13
by
CNBC
tv
eye 102
favorite 0
quote 0
sounds like the fed's worried something good could be happening in the economy. something like they see like loan growth or job growth, we don't want that, right? job growth, that's terrifying. it means the fed won't keep interest rates down anymore. what we want, obviously, is permanent bad news. be careful, we had a similar selloff when the last notes came out, that was followed by a rally of epic proportions. as good a reason as any to take profits. then we have the sequester sneaking up on us again, that bid to cut federal spending with a meat axe. hmm, i thought we wanted government spending cutback? isn't that what people are clambering for? everyone says it's bad and it's going to hit the military really hard, right? lead story in "usa today" says so. let me ask you a question, how the heck did the philly defense index hit an all-time high in this session if the defense department's really going to get whacked. the sequester bark may be a tad less than its bite. what kind of word is sequester anyway? i don't want to fear words that seem like they're kind o
sounds like the fed's worried something good could be happening in the economy. something like they see like loan growth or job growth, we don't want that, right? job growth, that's terrifying. it means the fed won't keep interest rates down anymore. what we want, obviously, is permanent bad news. be careful, we had a similar selloff when the last notes came out, that was followed by a rally of epic proportions. as good a reason as any to take profits. then we have the sequester sneaking up on...
176
176
Feb 22, 2013
02/13
by
CNBC
tv
eye 176
favorite 0
quote 0
so it's always relevant to economies in europe. they are facing an overshoot of the exchange rate, but it is too high for their purpose. that is going to bring the tension back into euro net. >> and speaking of italy, we79 to remind folks what else is coming up on today's program. the final countdown is under way for italy's election. we'll get a check on europe's growth process spengts for the eu forecast. we'll head live to brussels for a live press conference. in other news, boeing is set to unveil a plan to help its troubled dreamliner to take flight today. and we're rolling out the red carpet. we'll head to tinsel town to the biggest night in hollywood. find out which films are tipped to win big at this year's oscars. fears are mounting that an inconclusive election this weekend could undermine the euro and set back markets in italy. hans, as we edge closer to that event, polls open sunday and they close on monday. we've seen the two-day sell off. is it related to the outcome here? >> well, i think the italian election has had
so it's always relevant to economies in europe. they are facing an overshoot of the exchange rate, but it is too high for their purpose. that is going to bring the tension back into euro net. >> and speaking of italy, we79 to remind folks what else is coming up on today's program. the final countdown is under way for italy's election. we'll get a check on europe's growth process spengts for the eu forecast. we'll head live to brussels for a live press conference. in other news, boeing is...
143
143
Feb 22, 2013
02/13
by
CNBC
tv
eye 143
favorite 0
quote 0
economy. >> no. except now we get to introduce the volatility and the uncertainty related to the sequester. as we were talking about off camera with becky, macro economic advisers who seem to be the barometer for this right now have it hitting gdp like 0.6%. if you're optimistic for the full year you've got to cut that on your forecast. while that may not be the same as a european inspired decline it's enough to push the fed further off the future isn't it not? >> it's certainly a drag. but i think it will be probably a smaller drag than macro advisers, they tend to overstate in my view. >> burt you're listening. where do you come down on this? >> i agree with this. i think 2.5% is about right. you know, the consumer is chugging along here okay. business spending is accelerating and that's certainly really good news. the real danger here for me is europe. you know, the bad news out of spain with the budget deficit. you know, i don't know who's taking these german competence surveys, but clearly senti
economy. >> no. except now we get to introduce the volatility and the uncertainty related to the sequester. as we were talking about off camera with becky, macro economic advisers who seem to be the barometer for this right now have it hitting gdp like 0.6%. if you're optimistic for the full year you've got to cut that on your forecast. while that may not be the same as a european inspired decline it's enough to push the fed further off the future isn't it not? >> it's certainly a...
167
167
Feb 20, 2013
02/13
by
CNBC
tv
eye 167
favorite 0
quote 0
economy that we've long talked about. that means more exports and the plunge that we've seen in sterling really over the last month or so is beneficial for that argument. >> what about king being outvoted again when it comes to wanting to do more? we're learning that they had discussed rate cuts? >> yeah. it is interesting. happened before obviously. but i think, you know, by him pushing the case and if we do get any data disappointment it's a clear sign that more q.e. will be on its way, especially with uncertainties in europe and the u.s. fiscal story come back and start to dent risk sentiment a bit. >> is it fair -- look separately at the average hourly earnings figures which show a 1.4% growth in december. some of the weakest growth since the 1.1% increase in the three months of december, 2009. is it really the case given the nature of -- the dynamics of britain's economy that quantitative easing is actually helping, or is it basically just continuing to rob from -- from consumer purchasing power? >> yeah. it's a diff
economy that we've long talked about. that means more exports and the plunge that we've seen in sterling really over the last month or so is beneficial for that argument. >> what about king being outvoted again when it comes to wanting to do more? we're learning that they had discussed rate cuts? >> yeah. it is interesting. happened before obviously. but i think, you know, by him pushing the case and if we do get any data disappointment it's a clear sign that more q.e. will be on...
80
80
Feb 19, 2013
02/13
by
CNBC
tv
eye 80
favorite 0
quote 0
that in turn reduces the amount of spending consumers willing to push back on the economy. i think it's going to be rough waters for the next near term. i would not hold my breath for $2 gasoline. >> understood. thank you. incredible stat, almost 4% was spent on gasoline. >>> all right. electric cars. maybe they could be the answer to higher gas prices if they can live up to expectation and we can get good range out of the battery. the week after the tesla test controversy in "the new york times" our own phil lebeau gets behind the wheel of tesla model s. driving d.c. to boston, pulled beside him on the turnpike, i gave him the one lap to go because i was jealous of his assignment. i am waving. i didn't text and drive. i was in a taxi. i almost drove into phil. the car looks great. you look good, too. >> thank you. so you know my photographer bob pollack saw somebody waving from a car, delivery car and goes who is the crazy man. we got up and said, hey, what's going on. you did look crazy. >> thank you. >> show you while we're here in milford, connecticut, tesla super charg
that in turn reduces the amount of spending consumers willing to push back on the economy. i think it's going to be rough waters for the next near term. i would not hold my breath for $2 gasoline. >> understood. thank you. incredible stat, almost 4% was spent on gasoline. >>> all right. electric cars. maybe they could be the answer to higher gas prices if they can live up to expectation and we can get good range out of the battery. the week after the tesla test controversy in...
38
38
Feb 21, 2013
02/13
by
CNBC
tv
eye 38
favorite 0
quote 0
. >>> and finally today, my observation on the smoking bomb waiting to explode for the economy and the markets. we have been hearing so many scare tactics recently, about the impact of the sequestration coming at us on march 1st. that's when $85 billion in automatic spending cuts take effect. the president said people will lose their jobs and the list of horrors is almost endless. but earlier in the program today, one of the most successfsuccess ful hedge fund managers in the planet talked about our deaf and deficit. he said the amount of money in these cuts are a joke when it comes to our larger budget issues and soon, he says, america will face the same kind of crisis greece is facing right now. >> if we don't deal with it in the next four, five years, the same thing's going to happen, we're going to wake up, interest rates are going to explode and the next generation, they're going to have a very, very tough time and it's so unfair. >> the dysfunction washington continues as business leaders continue to raise serious concerns about the implications of the debt and deficit. and the u
. >>> and finally today, my observation on the smoking bomb waiting to explode for the economy and the markets. we have been hearing so many scare tactics recently, about the impact of the sequestration coming at us on march 1st. that's when $85 billion in automatic spending cuts take effect. the president said people will lose their jobs and the list of horrors is almost endless. but earlier in the program today, one of the most successfsuccess ful hedge fund managers in the planet...
273
273
Feb 20, 2013
02/13
by
CNBC
tv
eye 273
favorite 0
quote 0
and the economy's going to be slowing down. the cumulative impact of the payroll tax increase, the income tax increase, higher gasoline prices and sequester cuts is all going to converge and result in a very weak print, i think, for maybe the second quarter gdp. i think the market pulls back a little and maybe once we get beyond some of the political uncertainty, the second half looks better. >> housing's better. the fur or five things you mentioned, do they more than offset the improvement we've seen in the economy? that we have finally seen, that we've waited center. >> i think they will in the short run. i think they will trump them. and we'll pull back. but i think the move in housing is sustainable. i mean, just -- in terms -- >> that's a lot. it covers a -- people feel much better about their job, about everything when they feel like, you know, they're -- what is that? >> you are correct. i'm saying, yes. >> you don't worry -- you're not -- that house you got, and by the way, folks, you can find it on -- >> what is going
and the economy's going to be slowing down. the cumulative impact of the payroll tax increase, the income tax increase, higher gasoline prices and sequester cuts is all going to converge and result in a very weak print, i think, for maybe the second quarter gdp. i think the market pulls back a little and maybe once we get beyond some of the political uncertainty, the second half looks better. >> housing's better. the fur or five things you mentioned, do they more than offset the...
102
102
Feb 19, 2013
02/13
by
CNBC
tv
eye 102
favorite 0
quote 0
economy in particular, it's the service sector. manufacturing is a sentinel part of our economy that gives us guidance down the road. what do i see when i look at those type of numbers globally? i see auto sales in europe down to 23-year lows. i see the good things in the economy are what businesses are doing to some extent. maybe private equity, maybe lbos, but at the epicenter of this are clean corporate balance sheets. certainly they've gotten clean. they've had the liquidity to scrub a dub dub all they want. what are we going to look for down the road in the future? i see things like t tea party express moving across the country and you don't read about them much in the media because they know the media is not going to give them gat coverage. they've go the gone statewide, states, gornors, that's the road they've taken. they might not be in themedia, but look at some of tse mor sconrviv statend inabt il lebu, dvi across country in a vehicle with a 7,500 tax credit making phone calls to see if it's too cold, make sure he can hit
economy in particular, it's the service sector. manufacturing is a sentinel part of our economy that gives us guidance down the road. what do i see when i look at those type of numbers globally? i see auto sales in europe down to 23-year lows. i see the good things in the economy are what businesses are doing to some extent. maybe private equity, maybe lbos, but at the epicenter of this are clean corporate balance sheets. certainly they've gotten clean. they've had the liquidity to scrub a dub...
60
60
Feb 22, 2013
02/13
by
CNBC
tv
eye 60
favorite 0
quote 0
rowe price, we understand the connections of a complex, global economy. it's just one reason over 75% of our mutual funds beat their 10-year lipper average. t. rowe price. invest with confidence. request a prospectus or summary prospectus with investment information, risks, fees and expenses to read and consider carefully before investing. . >>> let's go back to headquarters, josh lipton watch, josh? >> down some 5%, a couple points here. one you had an influential analyst, cutting that stock to a sell, along with a host of other names. substantial pressure, he says, on nutrients pricing on the first half. another name we should mention, jana partners, remember, jana is one of the largest shareholders. talks between the two have broken down. agrium down 5.5%. scott, back to you. >> lighting up my twitter feed, michael kors, facebook, herbalife and cirrus logic. >> i bought michael kors today. >> buy high, sell higher? >> no, this is actually an example of being patient and waiting for the stock to come to you, filling the price gap. that's exactly what it
rowe price, we understand the connections of a complex, global economy. it's just one reason over 75% of our mutual funds beat their 10-year lipper average. t. rowe price. invest with confidence. request a prospectus or summary prospectus with investment information, risks, fees and expenses to read and consider carefully before investing. . >>> let's go back to headquarters, josh lipton watch, josh? >> down some 5%, a couple points here. one you had an influential analyst,...
197
197
Feb 19, 2013
02/13
by
CNBC
tv
eye 197
favorite 0
quote 0
economy. it's happened over the last five years. people start forecasts very, very positively and then they tend to revise down their forecasts. we've been quite cautious. we're looking for close about 1.7% growth this year. it's going to be growth, but it's not a great recovery. >> how much of a drag gas prices, retail gasoline price res? up 32 days in a row or something like that? >> i think there are a few other. gasoline prices, of course, but the expectation is that they will remain stable or, you know, they won't ramp up too much unless you have some massive supply side shock. but it's more to do with things like the fiscal drag that you just mentioned, the fact that you don't have clarity on whether taxes are going up, what's going to to happen to your consumption levels. these are the key factors that make us a little bit more cautious from a u.s. outlook. >> any change in fed policy? they just keep going? >> they just keep going, at least for this year. i think they very early late laid out the rules by which they will chan
economy. it's happened over the last five years. people start forecasts very, very positively and then they tend to revise down their forecasts. we've been quite cautious. we're looking for close about 1.7% growth this year. it's going to be growth, but it's not a great recovery. >> how much of a drag gas prices, retail gasoline price res? up 32 days in a row or something like that? >> i think there are a few other. gasoline prices, of course, but the expectation is that they will...
29
29
Feb 22, 2013
02/13
by
CNBC
tv
eye 29
favorite 0
quote 0
rowe price, we understand the connections of a complex, global economy. it's just one reason over 75% of our mutual funds beat their 10-year lipper average. t. rowe price. invest with confidence. request a prospectus or summary prospectus with investment information, risks, fees and expenses to read and consider carefully before investing. >>> the dow is holding on to its gains, still below 14,000 but a third of the points of the gain on the dow have been due to two stocks, hpq and ibm. the oscars are two days away. are you wondering how to bet in your oscar poolt? cnbc's julia boorstin is on the red carpet with some answers. julia? >> reporter: well, mandy, the secret to winning your oscar pool is paying attention to social media as well as
rowe price, we understand the connections of a complex, global economy. it's just one reason over 75% of our mutual funds beat their 10-year lipper average. t. rowe price. invest with confidence. request a prospectus or summary prospectus with investment information, risks, fees and expenses to read and consider carefully before investing. >>> the dow is holding on to its gains, still below 14,000 but a third of the points of the gain on the dow have been due to two stocks, hpq and...
157
157
Feb 22, 2013
02/13
by
CNBC
tv
eye 157
favorite 0
quote 0
europe is a very tough economy. and we have the highest market share in servers of any competitor in europe, so when europe is soft, we're disproportionately hurt in that business. so we thought it was better to not get out over our skis, you know, one quarter we got three more to go, and we want to make sure we're cautious, and this business changes very rapidly. >> indeed it does. let's get to pcs, because there the changes perhaps happening more rapidly than some had anticipated. sales to consumers down 13%, sales of pcs and notebooks deteriorating quite rapidly, more rapidly than you anticipated. this is a painful transition. how do you manage it and what do you tell people to expect when you're just talking about a unit that does 10% of your operating profit, at 2.7% margins? >> yeah. so there's a couple of reasons we really like this business. and first of all, there is a huge transition taking place. the reason we've never called this business the pc business, we call it the personal systems business. it's an
europe is a very tough economy. and we have the highest market share in servers of any competitor in europe, so when europe is soft, we're disproportionately hurt in that business. so we thought it was better to not get out over our skis, you know, one quarter we got three more to go, and we want to make sure we're cautious, and this business changes very rapidly. >> indeed it does. let's get to pcs, because there the changes perhaps happening more rapidly than some had anticipated. sales...
61
61
Feb 20, 2013
02/13
by
CNBC
tv
eye 61
favorite 0
quote 0
there is a global economy. and it's proven that the fed is ahead of the curve. if you look at what's going on with the price of gold here, people are talking about the death cross. i would say that gold at an 11 rsi and getting back to the lows of may, is way oversold. you're effectively at a double bottom. almost three standard deviations away from the 100 moving average. so, this, you know, this chart doesn't scare me. it may be an opportunity. but with the gold miners, one of the things we're looking at, if you see, if you listen to gold fields, if you listen to one of the russian gold producers last week, said they were putting their hedges in gold back on. so, the correlation of gold miners to the metal is something that may be ending. and i think gold miners are going through a transition and it may be slow, where people will look at them as yield plays and not growth plays. i would like to see them leave the high cash flow behind, generate yields, dividends. this is what we're seeing. the valuations are interesting here. the miners, i like. either harmony
there is a global economy. and it's proven that the fed is ahead of the curve. if you look at what's going on with the price of gold here, people are talking about the death cross. i would say that gold at an 11 rsi and getting back to the lows of may, is way oversold. you're effectively at a double bottom. almost three standard deviations away from the 100 moving average. so, this, you know, this chart doesn't scare me. it may be an opportunity. but with the gold miners, one of the things...
316
316
Feb 19, 2013
02/13
by
CNBC
tv
eye 316
favorite 0
quote 0
government economy from the real economy. breaking rules on manipulating your currency versus saying it's okay if it quote/unquote improves your economy. markets are going to have a tough slog ahead. but the easy path seems to be long equities. >> i was surprised that there wasn't more from the g-8 this weekend just in terms of what they might say about some of these measures. >> what could they say? >> because none of them could point a finger. >> do as we say? >> it's that slippery slope, and it's tough for any of them to really go around pointing fingers of blame at this point. but i was still surprised that we didn't hear more. >> the world's gone bernanke. >> steve, i know you've been doing some work looking at gdp as well? >> huge variability. people are just uncertain about what's going to happen in this quarter, in part because of the sequester, in part because of the tax hike that hned the turn of the year. and i just want to show you some of the numbers that we came in this morning, we calculated the average for eig
government economy from the real economy. breaking rules on manipulating your currency versus saying it's okay if it quote/unquote improves your economy. markets are going to have a tough slog ahead. but the easy path seems to be long equities. >> i was surprised that there wasn't more from the g-8 this weekend just in terms of what they might say about some of these measures. >> what could they say? >> because none of them could point a finger. >> do as we say? >>...
145
145
Feb 21, 2013
02/13
by
CNBC
tv
eye 145
favorite 0
quote 0
economy, which is okay, and the european economy which is contracting further. difference between a federal reserve that may step back from easing and other banks in europe that may have to go further in easing and difference between the eurozone as well itself. so the pmi data that carl refers to indicate that we're still getting the eurozone contracting in the second quarter, but look at the difference now between france and germany. germany is beginning to pull back but these two major economies right at the heart of the eurozone, the two biggest economies going in different directions, the rest of the eurozone falling and france arguably questionably going into a tail spin along with that. so let's work our way through the price action in response to that. yes, if you look at the minors because of what's happening with the feds and metals, you see the mining stocks are in negative territory. it's also time for a lot of europeans to book profits they've had. the french banks, for example, you can see they, too, are coming into negative territory. the question
economy, which is okay, and the european economy which is contracting further. difference between a federal reserve that may step back from easing and other banks in europe that may have to go further in easing and difference between the eurozone as well itself. so the pmi data that carl refers to indicate that we're still getting the eurozone contracting in the second quarter, but look at the difference now between france and germany. germany is beginning to pull back but these two major...
123
123
Feb 20, 2013
02/13
by
CNBC
tv
eye 123
favorite 0
quote 0
what impact on the overall economy would it have? steve liesman takes a look. >>> currently on wall street it's beginning to believe washington will not avoid the sequester. that's the $85 billion in spending cuts across the board spending cuts that would be put in place beginning in march. here's what we're seeing the consensus on the street for the impact. gdp would be cut by about a half to 0.6 percentage points. the jobs impact, 500,000 to 700,000 jobs depending on whose report you read. unemployment rate would rachet up by a quarter to .3 of a point. macro economic advisors say the sequester effects not by themselves catastrophic but they add that quote, the indiscriminate fiscal restraint would come on the heels of tax increases with the economy still struggling to overcome the legacy of the great recession and when the fomc is constrained in offsetting the additional fiscal drag. here's the quarterly impact of the sequester as estimated. you would want to average all those up for the impact by year. note that it doesn't hit fu
what impact on the overall economy would it have? steve liesman takes a look. >>> currently on wall street it's beginning to believe washington will not avoid the sequester. that's the $85 billion in spending cuts across the board spending cuts that would be put in place beginning in march. here's what we're seeing the consensus on the street for the impact. gdp would be cut by about a half to 0.6 percentage points. the jobs impact, 500,000 to 700,000 jobs depending on whose report you...
191
191
Feb 18, 2013
02/13
by
CNBC
tv
eye 191
favorite 0
quote 0
what promises to be a serious recession is beginning to affect the economy there, and fiat and other european carmakers are struggling. but it should not affect the future of chrysler. do you think they're out of the woods? >> i think the question of whether chrysler will survive or not is largely behind us. i think the question at this point is how big a market share can they have? how good can their products be? >> there are plenty of new products in the pipeline. but marchionne, who is right now obsessed with quality, is taking nothing for granted. what's the biggest challenge facing chrysler right now? >> that we're gonna slip on execution. we're gonna get something wrong, big. >> like what? >> we're gonna screw up on a car. it won't sell. it's possible. >> can you afford that? >> one car, yes. now i can afford a car. 12 months ago, it would have been a--it would have been a disaster. but now i can take the pain. not-- one--one car. >> since our story first aired, chrysler's comeback has continued. in september 2012, the company announced that its sales had increased 11.5% from t
what promises to be a serious recession is beginning to affect the economy there, and fiat and other european carmakers are struggling. but it should not affect the future of chrysler. do you think they're out of the woods? >> i think the question of whether chrysler will survive or not is largely behind us. i think the question at this point is how big a market share can they have? how good can their products be? >> there are plenty of new products in the pipeline. but marchionne,...
91
91
Feb 19, 2013
02/13
by
CNBC
tv
eye 91
favorite 0
quote 0
i tend to think, i tend to believe, that the economy of the world is, in fact, doing better. >> didn't copper pull back because china was pulling back on the liquidity through repo lines. it's a pullback based on the notion that china is a big consumer. >> well, if that's true, then tin and zinc fell rather dramatically. >> they talked about putting clamps on the property. they hit all the industrial metals because china was worried about the property prices. >> good. they should. they've had -- property prices in china got a little bit out of hand. they needed to put a stop to that at some point. >> all right, dennis, great to see you. >> thank you. thanks for having me on. >> dennis gartman. let's trade some gas price derivatives. the consumer stocks, especially in light of that walmart memo, citing an internal e-mail that february sales off to its worst start in years. you couple that with the pain at the pump, and not a pretty picture for the u.s. consumer at this point. >> i'm not going to go the consumer route. we've been talking about the refiner trades. look at psx. in the 40s,
i tend to think, i tend to believe, that the economy of the world is, in fact, doing better. >> didn't copper pull back because china was pulling back on the liquidity through repo lines. it's a pullback based on the notion that china is a big consumer. >> well, if that's true, then tin and zinc fell rather dramatically. >> they talked about putting clamps on the property. they hit all the industrial metals because china was worried about the property prices. >> good....